Principal Financial Group announces management changes

Principal Financial Group, Inc., a provider of retirement savings, has named Julia Lawler as senior vice president of investment services and Tim Dunbar as senior vice president and chief investment officer of the company. The changes are effective in January 2013.

Ms Lawler is currently senior vice president and chief investment officer (CIO) at The Principal. Mr Dunbar, currently senior vice president - Strategy and Finance, will replace Ms Lawler.

Larry Zimpleman, chairman, president and CEO of The Principal, said: "These senior leadership changes reflect The Principal's continued growth as a global investment management leader. As an early adopter of open investment architecture and a multi-manager investment platform, today in the US we offer retirement clients investments from Principal Global Investors and 44 outside sub-advisory firms.

"Given the extensive growth of The Principal globally, our international businesses require similar rigor around the management of external investment firms in all the countries where we do business. This is an ideal time to build on the experiences of our strong senior management team and shift responsibilities accordingly."

In Ms Lawler's new role, she will oversee The Principal retirement and mutual fund investment platform for the company's clients across all outside asset managers both domestically and globally. Her responsibilities will include global investment performance monitoring, measurement and reporting, and maintaining relationships with outside managers and the company's proprietary investment manager, Principal Global Investors.

Ms Lawler joined The Principal in 1984 as a commercial real estate representative and was promoted in various real estate and senior equity roles. She also served as head of Capital Markets before moving into the CIO role.

Mr Dunbar will continue to oversee Capital Markets at The Principal, and will replace Ms Lawler in the chief investment officer role. He will oversee the strategic allocation of the General Account and chair the company's Investment Committee.

Mr Dunbar joined the company in 1986 as an asset manager representative. He also has served in roles including Commercial Real Estate, equity management, and member of the global management team for Principal International in Monterrey, Mexico. He was appointed to head Capital Markets, Corporate Strategy and Corporate Treasury areas in 2011.

Dennis Menken, portfolio manager, will be promoted to vice president and portfolio manager for the organization's General Account. He will be responsible for managing the multi-sector insurance portfolios for Principal Life Insurance Company. Mr Menken joined The Principal in 1994. Prior to his current role, he was a portfolio manager for the corporate segment. He also has served as an auditor at Deloitte & Touche.